PMTS director receives and exercises RSU awards

CPI Card Group Inc. director Valerie Soranno Keating reported routine equity compensation activity involving restricted stock units.

Rhea-AI Filing Summary

CPI Card Group Inc. director Valerie Soranno Keating reported routine equity compensation activity involving restricted stock units. She received a grant of 2,164 RSUs, each representing one future common share, which vest on the first anniversary of the March 31, 2026 award date, subject to continued service or the award terms. She also exercised 1,072 deferred RSUs granted on March 31, 2025, converting them into 1,072 shares of common stock at no cash price. Following these transactions, she directly holds 33,426 shares of common stock and 2,164 RSUs that will settle in shares after vesting and upon separation from service.

Insider Trade Summary

1,072 shares exercised/converted

Exercise 3 txns

Insider Soranno Keating Valerie

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	2,164	$0.00	$0.00
Exercise	Restricted Stock Units	1,072	$0.00	$0.00
Exercise	Common Stock	1,072	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 2,164 contracts (Direct); Common Stock — 33,426 shares (Direct)

Footnotes (4)

1. F1. Each restricted stock unit ("RSU") represents the right to receive one common share of the Issuer upon vesting of such RSU.
2. F2. This line represents deferred RSUs. The shares of Common Stock underlying these RSUs will be issued to the Reporting Person following the Reporting Person's separation from service with the Issuer.
3. F3. The 2,164 RSUs reported on this line vest on the first anniversary of the March 31, 2026 award date, subject to the reporting person's continued service through such date or as otherwise provided for in the applicable award agreement.
4. F4. This line reports 100% of the deferred RSUs that were awarded on the March 31, 2025 award date, which vested on the 12 month anniversary of the award date.

Key Figures

RSU grant: 2,164 RSUs RSU exercise: 1,072 RSUs Common shares after transactions: 33,426 shares +1 more

4 metrics

RSU grant 2,164 RSUs Granted March 31, 2026, each for one common share

RSU exercise 1,072 RSUs Deferred RSUs exercised March 31, 2026 into common stock

Common shares after transactions 33,426 shares Direct common stock holdings following RSU exercise

RSU grant price $0.00 per unit Grant and conversion price for RSUs as compensation

Key Terms

Restricted Stock Units, deferred RSUs, separation from service, vesting, +1 more

5 terms

Restricted Stock Units financial

"Each restricted stock unit ("RSU") represents the right to receive one common share"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

deferred RSUs financial

"This line represents deferred RSUs. The shares of Common Stock underlying these RSUs will be issued"

separation from service financial

"will be issued to the Reporting Person following the Reporting Person's separation from service with the Issuer"

vesting financial

"RSUs reported on this line vest on the first anniversary of the March 31, 2026 award date"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

award date financial

"were awarded on the March 31, 2025 award date, which vested on the 12 month anniversary"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did PMTS director Valerie Soranno Keating report?

Valerie Soranno Keating reported equity compensation activity, not open-market trades. She received 2,164 new restricted stock units and exercised 1,072 deferred RSUs into 1,072 common shares, all at a price of $0.00 per share as part of her director compensation.

How many PMTS restricted stock units were granted in this Form 4 filing?

The filing shows a grant of 2,164 restricted stock units. Each RSU represents the right to receive one CPI Card Group Inc. common share upon vesting, giving the director additional future equity exposure aligned with the company’s long-term performance and her continued board service.

When do Valerie Soranno Keating’s newly granted PMTS RSUs vest?

The 2,164 RSUs vest on the first anniversary of the March 31, 2026 award date. Vesting is subject to her continued service through that date or as otherwise provided in the applicable award agreement, linking the equity award to ongoing board tenure.

What are deferred RSUs mentioned in the PMTS Form 4 footnotes?

Deferred RSUs are restricted stock units whose underlying shares are delivered after separation from service. The filing notes that the reported deferred RSUs convert into common stock when the reporting person leaves CPI Card Group Inc., delaying share issuance while preserving equity-based compensation value.

How many PMTS common shares does the director hold after these transactions?

After exercising 1,072 deferred RSUs into common stock, the director directly holds 33,426 PMTS common shares. This figure reflects her updated ownership position, excluding the additional 2,164 RSUs that remain outstanding and will convert into shares when vesting and settlement conditions are met.

Were any PMTS shares bought or sold on the open market in this Form 4?

No open-market purchases or sales are reported. All movements involve grants and exercises of restricted stock units at $0.00 per share, reflecting compensation and vesting events rather than discretionary trading, so they primarily update her equity-based pay and share ownership records.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/02/2026 - 05:07 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Soranno Keating Valerie

(Last) (First) (Middle)

C/O CPI CARD GROUP INC.

10368 WEST CENTENNIAL ROAD

(Street)

LITTLETON COLORADO 80127

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CPI Card Group Inc. [ PMTS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/31/2026		M		1,072	A	(1)	33,426	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units(2)	(1)	03/31/2026		A		2,164		(3)	(3)	Common Stock	2,164	$0	2,164	D
Restricted Stock Units	(1)	03/31/2026		M			1,072	(4)	(4)	Common Stock	1,072	$0	0	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents the right to receive one common share of the Issuer upon vesting of such RSU.

2. This line represents deferred RSUs. The shares of Common Stock underlying these RSUs will be issued to the Reporting Person following the Reporting Person's separation from service with the Issuer.

3. The 2,164 RSUs reported on this line vest on the first anniversary of the March 31, 2026 award date, subject to the reporting person's continued service through such date or as otherwise provided for in the applicable award agreement.

4. This line reports 100% of the deferred RSUs that were awarded on the March 31, 2025 award date, which vested on the 12 month anniversary of the award date.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

	/s/ Darren Dragovich, attorney-in-fact	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)